IT'S A BUBBLE.
REALLY, AND IT WILL SOON BURST - JUST LIKE WHEAT DID.
DEDICATED TO EXPOSING DISINFORMATION AND PROPAGANDA AND TO PROMOTING UNIVERSAL HUMAN RIGHTS - WITH SHARP ANALYSIS AND BLUNT COMMENTARY. NO ADS. NO TIP-JAR. JUST THE TRUTH.
DEDICATED TO EXPOSING DISINFORMATION AND PROPAGANDA AND TO PROMOTING UNIVERSAL HUMAN RIGHTS - WITH SHARP ANALYSIS AND BLUNT COMMENTARY. NO ADS. NO TIP-JAR. JUST THE TRUTH.
3 comments:
Holy Cow copper, oil and wheat
I am hoping to this bubble to burst before the next heating season here. At $100/bbl, heating my home costs about $500 a month!
Today's WaPo has this article today. For what it's worth, here is an excerpt:
Analysts cited several factors behind yesterday's crude oil move: the declining dollar, the impact of higher price forecasts issued by investment banks, an unexpected drop in U.S. crude inventories and a jump in Chinese fuel imports. China needs extra fuel to run generators to compensate for disruptions in coal deliveries and hydropower resulting from the recent earthquake. Traders said demand is particularly strong for diesel fuel, used by drivers in Europe and in Chinese generators.
But the bigger question is: What has been driving the doubling of prices over the past year even as U.S. demand has stagnated and global output has continued without any major new disruption?
speculators now buy as much oil as china and india COMBINED.
they are buying out to 2016.
it's a bubble.
we will be hearing touts claiming oil will go to 200 in order for the bigboy/insiders to unload their positions.
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